{"id":18318,"date":"2016-05-31T13:45:26","date_gmt":"2016-05-31T21:45:26","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=18318"},"modified":"2016-05-31T13:45:26","modified_gmt":"2016-05-31T21:45:26","slug":"quote-of-the-day-737","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/quote-of-the-day-737\/","title":{"rendered":"Quote of the Day"},"content":{"rendered":"<p>&#8220;In its simplest form, <strong>MGM<\/strong> bought $102 mm of EBITDA for ~$900 mm and sold $100 mm of EBITDA for $1.175 [billion]. Thus, simplistically, MGM\u2019s share of <strong>Borgata<\/strong> EBITDA remains effectively the same, MGM takes over day to day management of the property, and MGM receives, in a sense, $275 mm of additional cash.&#8221; &#8212; <em><strong>Deutsche Bank<\/strong> analyst <strong>Carlo Santarelli<\/strong>, breaking down the Borgata purchase, which cost MGM a very reasonable 9X cash flow<\/em>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;In its simplest form, MGM bought $102 mm of EBITDA for ~$900 mm and sold $100 mm of EBITDA for $1.175 [billion]. Thus, simplistically, MGM\u2019s share of Borgata EBITDA remains effectively the same, MGM takes over day to day management &hellip; <a href=\"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/quote-of-the-day-737\/\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[23,60,11,38],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/18318"}],"collection":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/comments?post=18318"}],"version-history":[{"count":1,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/18318\/revisions"}],"predecessor-version":[{"id":18319,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/18318\/revisions\/18319"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=18318"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=18318"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=18318"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}